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S. Korea's No. 2 brewer taps Latin American beer market
Publication Date : 10-04-2014
HiteJinro, No. 2 brewer, has set up a partnership with Grupo Barcelo, a Dominican conglomerate, to tap the Caribbean island country’s beer market.
The Korean company, which has exported beer to the Dominican Republic since January, said on Wednesday it planned to build a brewery there.
HiteJinro said it expects to ship 16,000 boxes of beer to the Dominican Republic by the end of this month. One box contains 24 330-millilitre bottles.
The Korean brewer said it hopes to use the partnership to expand its presence to other countries in the region.
Grupo Barcelo is among the Dominican Republic’s top 10 conglomerates, its portfolio ranging from hotels and resorts to food and beverages.
HiteJinro, in the face of heightening competition from its top rival Oriental Brewery, has been seeking to bolster exports.
As of March 2013, Oriental Brewery led the Korean market with almost a 60 per cent market share, while HiteJinro held just over 40 per cent, according to the Korea Alcohol & Liquor Industry Association.